Baristas Coffee Company Inc (OTCMKTS:BCCI) stock has experienced a sharp swing in the wake of the company embarking on an aggressive marketing campaign for its cannabis-infused coffee product line. The company is fresh from signing an advertising agreement with ReelTime Media that will result in the marketing of the company’s products at 61 NASCAR Sanctioned races.
Investors have continued to push the stock higher on the confirmation that the company’s EnrichaRoast CBD is now available nationwide following Trump Hemp Farm Bill approval. The company has also moved to strengthen its prospects by inking partnerships that will bring its CBD Coffee to mainstream connoisseurs and Super Bowl audiences.
A 300% spike has caught the market by surprise given that it has catapulted the stock to two-year highs after a long period of underperformance and uncertainty. The stock has continued to break through critical resistance levels on its way to two-year highs as the upward momentum continues to gather pace.
The stock has for once turned bullish, bulls having regained control from short sellers. After the recent spike, the stock is staring at a key resistance level to the $0.05 mark. It would not come as a surprise on the stock pulling back, before on an upward run.
Pullbacks from current highs should experience strong support at the $ $0.03 level. The stock holding above the critical support level should open the door for buyers, who missed -out on the initial spike to come in and continue pushing the stock higher.
Conversely, any sell-off followed by a close below the $0.03 mark could leave the stock vulnerable to further drops with the $0.02 appearing to be the next stop.
About Baristas Coffee Company
Baristas Coffee Company is a specialty drive-through beverage retailer in the U.S. The company offers a wide blend of specialty coffee including blended teas as well as custom drinks and specialty coffee. In the recent past, it has sought to strengthen its product line with the unveiling of cannabis blended coffee product line.
NASCAR and Super Bowl Advertising Drive
Baristas Coffee Company is skyrocketing on announcing an aggressive marketing campaign as the company seeks to ramp up sales. The company has inked a deal that will see its Baristas CBD EnrichaRoast Coffee advertised at sanctioned 61 NASCAR races.
The advertisements will be seen throughout the races on digital displays, in the arena, as well as in mobile devices. In addition, the company’s products will also be on display at the upcoming Super Bowl. Baristas White Coffee and EnrichaRoast CBD Coffee advertisements will be the first-ever CBD to run at an NFL game.
Barry Henthorn CEO stated “Having Baristas White Coffee, and our new EnrichaRoast CBD coffee ads at the Super Bowl will give us tremendous exposure. We are thankful to the NFL, ReelTime Media, and Canna Broadcast Media for making this possible. Baristas is growing its market awareness and expanding its product offerings.”
Expanding reach through advertisements through big sporting events is part of the company’s latest marketing campaigns as it seeks to reach out to a wider target market.
Baristas Coffee Company has also turned to e-commerce as it looks to strengthen its sales channels. Its CBD coffee product line will now be available on a new online platform as part of the aggressive marketing campaign.
“This is an entirely new market expected to grow exponentially, and we are proud to be pioneers during this period of evolving American History. We will continue to evolve Baristas products while expanding our brand, as we design and create additional Baristas EnrichaRoast coffee and CBD products,” said Mr. Henthorn.
Baristas Coffee Company embarking on a multi-tiered push in pursuit of new sales channels is a development that affirms growth prospects. The aggressive marketing campaign can only lead to one thing, increased sales. It thus does not come as a surprise that investors have continued to push the stock up the charts in anticipation of the company posting impressive numbers on revenue generation.
Baristas Coffee Company has hit buy zone thanks to its aggressiveness in pursuit of new sales channels through an aggressive marketing campaign. That said the stock is a fundamentally attractive investment given the prospects of revenue growth going forward. After the recent spike higher, it might be wise to wait for pullbacks before entering long positions.
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Disclosure: We have no position in BCCI and have not been compensated for this article.